Walden Crossing

100 Walden Crossing Drive
Atlanta GA

Walden Crossing View1

Property Type

Multifamily
Property Size
264 Units
Available Space
Not available
Tenure
Sale
Price
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DescriptionClick Here To View Mapped Property

Click Here To View Mapped Property

JLL is pleased to present the Walden Portfolio (“the Portfolio”), a rare opportunity to acquire two high-quality, complimentary communities ideally located along Atlanta’s dynamically evolving I-75 and I-575 corridors, spanning across Kennesaw and Canton. The Portfolio consists of Walden Ridge, a 210-unit multifamily asset built in 2002, and Walden Crossing, a 264-unit multifamily asset built in 2001. Developed across gorgeous suburban landscapes, both properties possess common themes with market-leading large floor plans, mature landscaping, striking stone-accent architecture, and unmatched offsite amenities. These development facets allow both properties to attract a more mature, high-income demographic that generally results in longer term residency, a feature that sets these communities apart from neighboring competitors. The Portfolio features geographical diversification across two rapidly expanding submarkets, with a seamless connection via I-575. These locations are fueled with long-term benefits driven by major employment nodes and a powerhouse of economic drivers. Unmatched population growth and nearby developments have prompted the Portfolio’s competing properties to implement luxury unit renovations and increase rents drastically. Walden Ridge and Walden Crossing now have a unique opportunity to execute similar luxury upgrades and capture $200+ rental premiums. Simultaneously, dual asset revenue streams smooth out volatility and allow for phasing of upgrades on one asset while maintaining yield on the other.


Features

Strategy Homogeneity ? Early 2000’s vintage and 474 units ? Established $50-$150 light “preservation updates” on 72% of the units over the last two years designed to keep competitive pace with its unrenovated peers ? Implementation of luxury upgrades on 100% of the units gains $200+ premiums ? Potential average cap rate movement of 230 bps per property by implementing luxury value-add program coupled with other ancillary income opportunities Risk Minimization ? Immediate operating efficiencies and acquisition scale in upscale suburban submarkets ? Diversified, rapidly expanding submarkets ? Historically strong occupancy rates with exceptionally low bad debt and strong resident base ? Assets’ combined revenue stream maintains yield while phasing upgrades

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David Gutting_Commercial Real Estate Broker
David Gutting

+1 404 995 2283

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Josh Magaro_Commercial Real Estate Broker
Josh Magaro

+1 404 995 6569

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Derrick Bloom_Commercial Real Estate Broker
Derrick Bloom

+1 404 995 2287

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